Acqualina units lead priciest residential sales in Sunny Isles Beach in 2010

Miami /
May.May 28, 2010 05:45 PM

The 52-story Acqualina condo hotel in Sunny Isles Beach

Two units in the Acqualina condo hotel topped the five priciest sales in Sunny Isles Beach this year, with each selling for an average of more than $588 per square foot, according to MLS data compiled by Condo Vultures. 

A 45th floor condo at Acqualina, 17885 Collins Avenue #PH4501, sold for $4.7 million, although that price was down from a previous listing of $5.5 million. The 6,353-square-foot unit sold for the equivalent of approximately $739 per square foot.

“Sales in Acquilina have been very strong,” said Lana Belenky of Sunny Isles Miami Real Estate, who said she has handled ten sales in the building. “It’s a very strong building. The building has all of the condo-hotel amenities, which people like. It’s a beautiful place and it’s at a very strong price.”

The second-place sale, also in the Acqualina, a 4,415-square-foot condo that sold for $2.6 million.

Condo Vultures founder Peter Zalewski told The Real Deal in an interview earlier this month that buyers are turning to Sunny Isles Beach due to its beachfront value, in contrast to pricier South Beach. Prices are high, but still well below the almost $1400 per square foot buyers paid in the first quarter for newly constructed units in South Beach.

Belenky said Sunny Isles was attracting more family-oriented buyers looking for a quieter location than South Beach. Sunny Isles, which is just north of Bal Harbour, received its incorporation in 1997, and has seen a wave of development of new, high-rise towers.
“There are different kinds of people who buy here,” she said. “They are more family-oriented, with kids. In South Beach, it’s very young; there are many French and Italian buyers. A lot of people don’t know what Sunny Isles is, but it’s a very new and exciting area and there is a lot more square footage for the price.”

In third was a 3,480-square-foot condo at the Turnberry Ocean Colony, which sold for $2.55 million, or an average per-square-foot price of $645.

According to data from the Miami-Dade County Property Appraiser, taxable values in Sunny Isles Beach were relatively resilient, declining by just 2.6 percent from 2008 to 2009. That is compared to an 8.2 percent drop for Miami Beach in the same time period.

In fourth place was the only single-family home in the top five, 306 Atlantic Avenue, which is located on Atlantic Island. The 7,010-square-foot home was the best value in the top five, with an average square foot price of just $342.

Rounding out the list was a 3,100-square foot condo at the Jade Beach tower, which sold for $2 million. 

Send tips to [email protected]com
 

Related Articles

arrow_forward_ios
Turnberry Ocean Club and Jeffrey Soffer (Getty)

Closings begin at newly completed Turnberry Ocean Club in Sunny Isles

Closings begin at newly completed Turnberry Ocean Club in Sunny Isles
Icon unit tops list of most expensive condo sales in Miami-Dade (Google Maps; Icon Brickell)

Condo sales and dollar volume up from last week

Condo sales and dollar volume up from last week
A map of condo sales and Setai in Miami Beach (Credit: Google Maps)

Weekly condo sales volume in Miami drops to $50M

Weekly condo sales volume in Miami drops to $50M
From left: David Koster, Gabriel Markovich, Seth Kaufman and Daniel de la Vega

One Sotheby’s acquires Decorus Realty in Sunny Isles Beach

One Sotheby’s acquires Decorus Realty in Sunny Isles Beach
Ben Nehmadi, Joseph Zichelle, Melissa Barragan, and Adam Gurewicz, with the unit

Turnberry Ocean Colony PH in Sunny Isles Beach sells for $7M

Turnberry Ocean Colony PH in Sunny Isles Beach sells for $7M
Judge gives Regalia developer A year to sell remaining units

Bankruptcy judge gives Regalia developer a year to sell PH and beach house

Bankruptcy judge gives Regalia developer a year to sell PH and beach house
Gil Dezer with a rendering of Porsche Design Tower and Residences by Armani/Casa (Credit: ARX via Madison Global)

Miami judge will rule if ex-Dezer COO is entitled to more than $10M in profits

Miami judge will rule if ex-Dezer COO is entitled to more than $10M in profits
A Sunny Isles Beach landlord said a restaurant refused relief and vacated the property.

RK Centers alleges restaurant refused Covid relief, vacated property

RK Centers alleges restaurant refused Covid relief, vacated property
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...